Keegan Incorporated His Sole Proprietorship by Transferring Inventory,a Building,and Land

Keegan incorporated his sole proprietorship by transferring inventory,a building,and land to the corporation in return for 100 percent of the corporation's stock.The property transferred to the corporation had the following fair market values and tax bases.
$\begin{array} { l r r r r } & \text { FMV } & \text { Tax Basis } \\\text { Irventory } & \$ 20,000 & \$ 14,000 \\\text { Buildirin } & 70,000 & 50,000 \\\text { Land } &\underline { 150,000 }&\underline {100,000} \\\text { Total } &\underline { \$ 240,000 }& \underline {\$ 164,000}\end{array}$ The fair market value of the corporation's stock received in the exchange equaled the fair market value of the assets transferred to the corporation by Keegan.
Assuming the gain or loss realized in the previous problem is deferred under section 351,what is Keegan's basis in the stock he receives in his corporation? 

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$164,000 The stock t...

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